Mullen Group to Acquire APPS Transport
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Mullen Group has entered into a letter of intent agreement to acquire APPS Transport Group.
APPS specializes in transportation and logistics, and is based in Mississauga, Ontario. The company provides less-than-truckload, truckload, intermodal and some warehousing services.
The acquisition is subject to regulatory approval but is expected to close June 1.
“This announcement is consistent with the strategy we have outlined to our loyal shareholders,” Murray Mullen, CEO of Okotoks, Alberta-based Mullen Group, said in a statement March 8. “We invest in companies that meet the goal of expanding our business in key markets within Canada. The other part of our strategy, a trademark of the Mullen Group, is investing in businesses that can operate as stand-alone entities within our diversified logistics service offerings. APPS meets both objectives.”
APPS founder Rob McDonald has agreed to continue in his current role and will oversee, grow and manage the business along with his business partners and employees. Mullen Group said the company will be incorporated within its less-than-truckload segment. The deal also will include APPS subsidiaries APPS Cartage and APPS Cargo Terminals.
Mullen Group ranks No. 54 on the Transport Topics Top 100 list of the largest for-hire carriers in North America.
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